New Street Research - Alibaba Group Holding Ltd. Sponsored ADR (A117ME) New Street: BABA FY1Q22 Preview

Report

New Street Research

Jin Yoon

New Street: BABA FY1Q22 Preview

What’s New: We revised down our estimates on CMR and China Retail Others mainly due to tougher comps. In this note, we also discussed about the latest updates on the business including investments in strategic initiatives such as Community Marketplace, Taobao Deals, local consumer services, and Lazada, as well updates on the recently concluded 6-18 promotion event.

Analysts:
Jin Yoon

05/07/2021 7 EN

Underlying

Alibaba Group Holding Ltd. Sponsored ADR

See profile

US01609W1027 Stuttgart Stock Exchange Cayman Islands

Provider

New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

See profile

Analysts

Jin Yoon

Other Reports on these Companies

UOB

Alibaba Group (9988 HK): 4QFY24: Rewarding dividend payout; reigniting cloud revenue growth in 2H24.

Alibaba delivered in-line 4QFY24 results. Revenue grew 7% yoy to Rmb221.9b, in line with street estimates. Non-GAAP net profit was Rmb24.4b, down 11% yoy and is 7% below street estimates, with net margin of 11%. In FY24, Alibaba has approved the twopart dividend of US1.66 per ADS, representing an aggregate of US$4b and 18% dividend payout ratio. We remain optimistic on the double-digit revenue growth target for the cloud business in 2H24. Maintain BUY. Target price: HK$98.00 (US$98.00).

May 16, 2024 May 16, 2024 1 EN

UOB

Greater China Daily: Thursday, May 16, 2024

KEY HIGHLIGHTS Results Alibaba Group (9988 HK/BUY/HK$82.65/Target: HK$98.00) Alibaba delivered in-line 4QFY24 results. Revenue grew 7% yoy to Rmb221.9b, in line with street estimates. Non-GAAP net profit was Rmb24.4b, down 11% yoy and is 7% below street estimates, with net margin of 11%. In FY24, Alibaba has approved the two-part dividend of US1.66 per ADS, representing an aggregate of US$4b and 18% dividend payout ratio. We remain optimistic on the double-digit revenue growth target for the cloud business in 2H24. Maintain BUY. Target price: HK$98.00 (US$98.00). Galaxy Entertainment Group...

May 16, 2024 May 16, 2024 1 EN

UOB

Regional Morning Notes - Thursday, May 16, 2024

GREATER CHINA Results Alibaba Group (9988 HK/BUY/HK$82.65/Target: HK$98.00): 4QFY24: Rewarding dividend payout; reigniting cloud revenue growth in 2H24. Galaxy Entertainment Group (27 HK/BUY/HK$36.80/Target: HK$51.00): 1Q24: Results within expectations; launch of smart gaming tables in Jul 24. Miniso (MNSO US/NOT RATED/US$24.15): 1Q24: 20-25% revenue guidance for 2Q24; raises TOP TOY store opening target for 2024. Tencent Holdings (700 HK/BUY/HK$381.80/Target: HK$454.00): 1Q24: Strong earnings beat; game revenue misses expectations. Stepping up repurchase plan. Update KE Holdings Inc (2423 HK/...

May 16, 2024 May 16, 2024 1 EN

Bible 1Q24 – Foundries: leading-edge strong; Trailing-edge correction playing out.

Today, we are publishing the Foundries section of our 23rd Tech Infrastructure Quarterly Bible. The Tech Bible is a must-read for any tech investor, as it summarizes the quarterly earnings reports from the over 130 companies we track, providing an update on our key perspectives and convictions. In the coming weeks we will publish sections on Automotive, Cloud Infrastructure, Telecom Equipment, Industrials, PCs, Enterprise IT, Ride sharing & Delivery, and Semicap Equipment. In the foundry market, leading-edge demand remains strong, driven primarily by AI infrastructure. The outlook for the tra...

22h / 13m 22h / 13m 1 EN

Chris Hoare

Chris Hoare

VEON (Buy, TP: $40, +55%) Thoughts after the call

VEON hosted a call post Q1 earnings.

EUR 9179.00

22h / 48m 22h / 48m 1 EN

Dan Salmon

Dan Salmon

Reddit (RDDT, Neutral, $54 target) Data licensing tracking our base case after OpenAI deal

RDDT and OpenAI announced their long-awaited partnership (OpenAI CEO Sam Altman was an early investor in RDDT and owned 9% pre-IPO). We don't think the deal is a surprise to the buyside, and our model assumed OpenAI was added before the end of 3Q24.

EUR 9179.00

22h / 56m 22h / 56m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

New Street: BABA FY1Q22 Preview

Alibaba Group (9988 HK): 4QFY24: Rewarding dividend payout; reigniting cloud revenue growth in 2H24.

Greater China Daily: Thursday, May 16, 2024

Regional Morning Notes - Thursday, May 16, 2024

Bible 1Q24 – Foundries: leading-edge strong; Trailing-edge correction playing out.

VEON (Buy, TP: $40, +55%) Thoughts after the call

Reddit (RDDT, Neutral, $54 target) Data licensing tracking our base case after OpenAI deal

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe